Coworking: Still in ita��s Infancy

Posted on December 4, 2017

If you think there are too many coworking spaces out there, then you’re wrong. Coworking is booming and not going anywhere. There are many reasons for this, but at ita��s core coworking fulfills a huge need in the office space market. Millennials and future generations will no longer accept the mediocrity of a basic office – we want amenities, coffee, internet – simplicity. Too busy to deal with the basics. In addition, the increasing digitization of our world has left us more and more isolated. Coworking solves this highly dangerous issue by bringing the people back together – creating community and connecting. Millennials also want a sense of purpose rather than just working for the sake of working. They want to work to make a life, not just a living. This is why at Kin Spaces our slogan is a�?Work Where Life Happens.a�?

Many underestimate these needs, but the numbers do not lie.

THE NUMBERS
By the end of the new year, nearly 1.2 million people worldwide will have worked in a coworking space. Small Business Labs, expects the number of global coworking members to increase from about 976,000 in 2016 to just over 3.8 million in 2020. Just to reiterate, the credibility of these numbers, every forecast Small Business Labs made A�underestimated the actual coworking numbers!A�

As the Small Business Labs chart below shows the number of global coworking spaces will grow from a bit over 11,000 last year to just over 26,000 in 2020.

REASONABLE NUMBERS?
Hell Yea. According to the real estate firm JLL, cowering spaces only compromise “0.7 percent of the total U.S. office market” and less than that outside of the U.S. This forecast would move this to a bit less than 2% of the U.S. office market in 2020.

READY TO JOIN THE COWORKING REVOLUTION?
If you havena��t joined a coworking space yet, we are confident that you probably will soon. Want to join a space that is cool? A space that is in the heart of SoHo, NY? A place that is designed beautifully and practically? A place where everyone is working hard? A space where everyone is succeeding and growing? A place where the growth and energy is infectious? Email us at join@kinspaces.com or give us a call at 877-394-8617. Ready to check us out? Book a tour. You wona��t regret it.